Bitauto Holdings Limited (BITA) Lowered to Buy at BidaskClub

BidaskClub cut shares of Bitauto Holdings Limited (NYSE:BITA) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on BITA. Zacks Investment Research raised Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Friday, July 14th. ValuEngine raised Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE BITA) traded down 2.49% during midday trading on Friday, reaching $47.68. The company’s stock had a trading volume of 617,827 shares. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $54.42. The firm’s 50-day moving average price is $46.80 and its 200-day moving average price is $34.88. The stock’s market capitalization is $3.33 billion.

Bitauto Holdings Limited (NYSE:BITA) last issued its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The business had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $282.86 million. During the same period in the prior year, the company earned $0.20 EPS. The company’s revenue for the quarter was up 52.9% compared to the same quarter last year. On average, analysts anticipate that Bitauto Holdings Limited will post $1.22 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in BITA. JPMorgan Chase & Co. increased its holdings in shares of Bitauto Holdings Limited by 3,394.3% during the 1st quarter. JPMorgan Chase & Co. now owns 173,739 shares of the information services provider’s stock worth $4,450,000 after buying an additional 168,767 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Bitauto Holdings Limited by 67.1% during the 1st quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock worth $267,000 after buying an additional 4,179 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bitauto Holdings Limited by 1,647.1% during the 1st quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock worth $7,135,000 after buying an additional 262,658 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bitauto Holdings Limited by 265.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 457,279 shares of the information services provider’s stock worth $11,706,000 after buying an additional 332,279 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Bitauto Holdings Limited during the 1st quarter worth $315,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

About Bitauto Holdings Limited

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.

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